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the sequester for flight delay. it is just another example of shoddy management by the faa. lori: gas prices are tank. why good news may still be on the way. melissa: fed watchers in full speculation mode as bernanke has he will skip jackson hole. a first for a federal chairman in 25 years. what does it mean? now, to the floor of the new york stock exchange. nicole petallides. nicole: we will get to some of the home builders in a second. right now you have a mixed market. the dow jones pulling back a bit. that 2.2%. last week was a rough week for the dow jones industrials. there is the tech heavy nasdaq. there is a look right now at how we have done so far. obviously, you can see that we have had a nice run this year. i wanted to also take a look at some of the homebuilders. we got in some existing home sales. pound .6% month over month. that is not good news there. the home prices that you saw word. back to you. lori: seasonally strong time of year for home sales. overall, the u.s. economy is running below its historical trend. this is a study done by the index. my next guest says the econo
air traffic controllers on the job this morning. the faa called for two furlough days for every two-week period to cut more than $600 million from the budget. airlines filed a lawsuit on friday to stop the furlough of air traffic controllers saying the cuts will result in delays up to an hour at major airports and hubs throughout the country. travel industry analysts say what's happening is political gamesmanship. >> the faa was shut down a few years ago. flights weren't affected. it seems to me like there is a request or directive out there to take steps so passengers will be inconvenienced and they will call their elected officials to get them to take action. >> reporter: now let's see what's happeninat airports around the this is live picture of mineta san jose international airport. i found three delays there this morning. the longest, 30 minutes. only a couple of 10-minute delays in oakland. and a few delays here at sfo, as well. now, even if sfo avoids furloughs, passengers could still feel the pinch because of the domino effect from delays at connecting airports. and speaking
for flight again in about a week. the faa approved friday a boeing plant to encase the 787 of lithium ion batteries in a steel box. install new battery chargers and add a duct to vent gases directly outside the aircraft that could cause overheating. we have a look at the golden gate bridge preconceived their ride on was found 80. moving well no problems out there in relatively clear as you look above the skies. are going to have air with another update on the forecast coming up at 545. today expect to be the hottest day of the week. full details street ahead. look at them kids. [ sigh ] they have no idea what it was like before u-verse high speed internet. yeah, you couldn't just stream movies to a device like that. one time, i had to wait half a day to watch a movie. you watched movies?! i was lucky if i could watch a show. show?! man, i was happy to see a sneezing panda clip! trevor, have you eaten today? you sound a little grumpy. [ laughter ] [ male announcer ] connect all your wi-fi-enabled devices with u-verse high speed internet. rethink possible. is more fun than ever. sees better
an hour long. >> reporter: the faa is blaming the delays on across-the-board budget cuts which, it says, forced it on to furlough 15,000 air traffic controllers and other workers and were spacing out flights in the name of safety. several hundred flights delayed, less than the agency's prediction of 6,700 daily flight delays. but transportation secretary ray lahood warns abc, we might see an airplane apocalypse yet. >> we did not take into account weather activities. these delays could get extended beyond the 60 to 90 minutes. >> reporter: late monday, i decided to investigate the delays myself. taking a round-trip from miami -- not bad. taking off about 25 minutes late. to orlando -- it looks like we're about to take off about 50 minutes late. not too bad given the circumstances. and back. now, a lot of folks back in there gripe that probably the airports that the politicians and congressmen use, washington national, probably didn't have too many delays. it did. delays up to two hours. airline analysts say if this persists through the summer, we could see ticket prices start to rise. r
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